Hedge Fund News: Carl Icahn, Phil Falcone & Sprott Asset Management

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Icahn Falsely Takes Credit For Family Dollar Sale (BidnessEtc)
Famous activist investor Carl Icahn was assumed to be one of the forces behind the deal between Dollar Tree, Inc. (NASDAQ:DLTR) and Family Dollar Stores, Inc. (NYSE:FDO). However, recent SEC filings show that Icahn didn’t play any significant role in the merger between the two companies; rather, he was an impediment. Furthermore, the retailers were already in talks related to this transaction before Icahn began his lobbying. The founder of Icahn Enterprises LP (NASDAQ:IEP), Carl Icahn is famous for buying active stakes in companies and pushing them for moves such as sales, buybacks, and other structural changes to create instant value for shareholders.

Carl Icahn as viking

Barclays Losing 60 Quants To Hedge Fund (Finalternatives)
A Barclays PLC (ADR) (NYSE:BCS) trading team that’s leaving this year to start a quantitative investment firm will take 60 bank employees with them, adding to Wall Street’s migration to the $2.8 trillion hedge-fund industry. Olivier Durantel, Gregoire Schneider, Antoine Fillet and Maxime Fortin of the British bank’s nQuants unit will form the venture, according to a person with knowledge of the plans, who asked not to be identified because the information is private. The firm, which hasn’t yet been named, will use algorithms to trade mainly equities and other liquid securities globally.

Falcone fights to keep control of LightSquared as bankruptcy maneuvering drags on (FierceWireless)
The fight for control of bankrupt wireless firm LightSquared continues to drag on, with Philip Falcone‘s Harbinger Capital Partners hedge fund submitting a new reorganization plan days after it seemed Falcone would be cut out of the company in a competing restructuring plan. Meanwhile, Bloomberg noted that Mast Capital Management has said it may put forward its own reorganization plan for LightSquared, which would split up LightSquared and separately reorganize debt at the “LightSquared Inc.” and “LightSquared LP” divisions, which have different creditors and own different rights to wireless spectrum.

Hedge fund strategy reinsurer Till Capital signs up to MultiStrat Re (Artemis)
Bermuda domiciled hedge fund style reinsurance and hybrid investment platform Till Capital Ltd., the parent company of reinsurer Resource Re Ltd., has signed two agreements with asset manager reinsurance platform Multi-Strat Re Ltd. Under the two agreements which Resource Re and Multi-Strat Re have entered into, Multi-Strat Re will provide certain underwriting and retrocession services to Till Capital. The Multi-Strat Re platform, a Bermuda-based special purpose insurer, is designed to make it easier for asset managers and hedge fund managers to enter the reinsurance sector by lowering barriers to entry and minimising the start-up capital required.

Majority Of Inflows Go To Brand Name Hedge Funds (Finalternatives)
Since the market correction of 2008, a vast majority of hedge fund net asset flows have gone to a small minority of hedge funds with the strongest brands, marking a change from the pre-2008 environment. A brand is an investor’s perception of the overall quality of a hedge fund based on multiple evaluation factors that evolve over time. A high-quality brand takes a long time to develop, but once achieved, it significantly enhances a firm’s ability to raise capital and retain assets during a drawdown in performance.

McKinsey Report: Alternative Investments growing fast (CNBC)

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